Steel panel meets companies on import substitution of high-value products
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Mumbai: A parliamentary panel has met top steelmakers to focus on import substitution of certain high-value products used in transformers and in the automotive industry, sources aware of the development told ET."The focus was around what we should be manufacturing in the country, especially from the perspective of being self-sufficient," one of the sources said. "A lot of products we currently import are high-value items, for which we do not have the technology - the discussions were around how these and other things can be done locally." The products include electrical steel, cold-rolled grain-oriented steel and certain steel alloys. The parliamentary standing committee for coal, mines and steel has engaged with local manufacturers to ascertain the feasibility of making these items that are crucial to the automotive value chain and transformers.JSW Steel, Tata Steel, Steel Authority of India, AM/NS India and Jindal Steel were the key manufacturers pre...